The cryptocurrency market was the absolute winner of 2017. Against almost all expectations, the digital coins managed to reach record after record. At the end of 2017, Bitcoin almost reached the limit of $ 20,000. Yet it has since gone downhill.
As most of you know Bitcoin even managed to fall below $ 6,000 in recent weeks, that was a bit of a shock for all crypto hodlers. Nevertheless, most of the cryptocurrency investors do not seem to be particularly impressed by the recent decline. The investors who have more experience in the cryptocurrency sector have already been faced with more intense crashes.
At the moment we are are going back up as Bitcoin resistance of $9,000 broke today, next resistance is probably around 10k but the bulltrend (maybe temporary) seems to be confirmed.
Bitcoin investors are not very concerned
The illustration below from MarketWatch shows that Bitcoin has experienced larger declines in the past. For example:
- The largest digital currency in the world lost 87% of its value in the period from November 2013 to January 2015
- In 2013 Bitcoin was confronted with a correction of 83% in only 5 days!
In addition, most Bitcoin investors use the HODL method (awesome cryptocurrency community). Simply put, this term means that you do not sell the cryptocurrency as long as you are on loss. With this in mind it makes sense cryptocurrency investors are more steadfast than most ordinary investors!
IS IT BULL & MOON TIME?
BTC = $ 10k tomorrow, easy!
Thank you for reading.
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Cheers,
MAXIDIGI
